1 givenchy company sells 100000 wrenches for 1200 per unit, Ask an Expert

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1) Givenchy Company sells 100,000 wrenches for $12.00 per unit. Fixed costs are $350,000 and net income is $250,000. What should be reported as variable expenses in the CVP income statement?

A. $950,000

B. $600,000

C. $850,000

D. $540,000

2) Fields Corporation has two divisions; Sporting Goods and Sports Gear. The sales mix is 65% for Sporting Goods and 35% for Sports Gear. Fields incurs $3,330,000 in fixed costs. The contribution margin ratio for Sporting Goods is 30%, while for Sports Gear it is 50%. Reference: Ref 6-2 The break-even point in dollars is Answe

r A. $8,325,000.

B. $9,000,000.

C. $7,744,186.

D. $1,232,100.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9981315

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